Settlements Associate
Alpaca provides developer APIs for stock, options, and crypto trading, enabling businesses and developers to build trading applications and automate investment strategies.
Projects
About Alpaca
Alpaca helps developers and businesses access financial markets through API-first infrastructure for stock, options, and cryptocurrency trading. Users can build algorithmic trading strategies, create investing applications, and integrate brokerage services into their platforms.
Skills
About the Role
You will own the end-to-end global equity settlement process, partnering with custodians, counterparties, and internal stakeholders to ensure timely and accurate settlement across international markets. You will monitor daily settlement activity, investigate and resolve trade mismatches and failing transactions, and review buy-ins and aged fails. You will perform daily cash and position reconciliations across multiple currencies, produce operational reporting, and support compliance with SEC and FINRA regulations. You will also partner with Engineering and Product teams to automate workflows and improve settlement processes.
Requirements
- 3+ years of experience supporting brokerage operations with a focus on global equity settlements
- Strong understanding of securities settlement lifecycles within a broker-dealer or carrying firm
- Experience working with third-party clearing firms and global custodians
- Knowledge of U.S. broker-dealer operations and financial industry regulations
- Familiarity with BNY Nexen or similar global custody settlement platforms
- Working knowledge of SWIFT settlement messaging (MT54x series), Euroclear, DTCC, and international settlement practices
- Experience settling securities across global markets including Europe and Asia
- Strong expertise in cash and position reconciliations across multiple currencies and markets
- Experience investigating trade mismatches and resolving settlement issues with counterparties
- Excellent written, verbal, and interpersonal communication skills
- Strong organizational skills and attention to detail
- Working knowledge of SQL, Metabase, or similar reporting and data analysis tools
- Proficiency with Microsoft Office and Google Workspace
- Possess the SIE Exam and Series 99 license (or higher), or obtain Series 99 within 180 days of hire
Responsibilities
- Own the end-to-end global equity settlement process across international markets
- Monitor daily settlement activity and identify transactions at risk of failing
- Investigate and resolve settlement exceptions, trade discrepancies, and failing transactions
- Review buy-ins, settlement penalties, and aged fails
- Monitor trade matching through SWIFT and settlement platforms
- Investigate and resolve trade mismatches and counterparty booking errors
- Escalate complex settlement discrepancies and operational risks to the Director of Brokerage Operations
- Perform daily reconciliations of securities positions and cash balances across markets and currencies
- Produce reconciliation reports and operational reporting on settlement activity and metrics
- Ensure compliance with SEC, FINRA, and global market regulations
- Support compliance with SEC Rule 15c3-3 possession and control requirements
- Maintain operational records supporting audits and regulatory reviews
- Identify recurring operational issues and recommend process improvements
- Update operational procedures, controls, and documentation
- Partner with Engineering and Product teams to automate operational workflows
- Collaborate cross-functionally with Brokerage Operations, Trading, Finance, Compliance, and Engineering
Benefits
- Competitive salary and stock options
- Health benefits
- One-time USD $500 home-office setup stipend
- USD $150 monthly stipend via a Brex Card
- Remote work